Business groups respond to General Election result

Business groups, including the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) have responded to the General Election result.

The Conservative Party has a Commons majority of 78 – its biggest majority since 1987.

Responding to the result, the CBI stated that business confidence 'must be rebuilt', and called for 'early reassurance on Brexit'. Carolyn Fairbairn, Director General of the CBI, said: 'Firms will continue to do all they can to prepare for Brexit, but will want to know they won't face another no-deal cliff edge next year.

'Pro-enterprise policies on immigration, infrastructure and innovation and skills will help relaunch the UK on the world stage.'

Meanwhile, the FSB said that it hoped that the result will 'bring stability back to the economy'. Mike Cherry, National Chairman of the FSB, said: 'The restoration of small business confidence and trust in politics rests on seeing the Conservatives' pledges to us swiftly enshrined in a programme for government. It's now time to turn kind words on bread-and-butter issues facing the small business community into tangible action.'

The BCC called for the Prime Minister to make 'restoring business, investor and consumer confidence' his top priority. Dr Adam Marshall, Director General of the BCC, commented: 'Campaign slogans must give way to a renewed focus on the details that matter. Our business communities need to see swift, decisive action to avoid a messy and disorderly exit from the EU and to tackle the barriers holding back investment and growth here in the UK.'

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